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Problem 22-24 (Algorith mlc) (LO. S, 6) The profnit and loss statement of Kitsch Ltd.,...

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Accounting

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Problem 22-24 (Algorith mlc) (LO. S, 6) The profnit and loss statement of Kitsch Ltd., an S corporation, shows $270,000 book income. Kitsch is owned equally by four shareholders. From supplemental data, you obtiain the following information about items that are induded in book incone. Selling experises Tax-exempt interest income Dividends received 1231 gein Depreciation recapture income Net income from passive real estate rentals Long-term capital loss Salary paid to owners (each) Cost of goods sold (S54,000) 8,100 24,300 18,900 27,000 13,500 (16,200) (32,400) (243,000) The entity's nonseparately stated computed losss 221,400 b. The portion of nonseparately stated income or loss for James Bilings, one of the the Kitsch shareholders, is c. What is James Billings' share of tax-exempt interest income, ir any? Round your answer to the nearest dollar

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